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Condensed Consolidated Statements of Income (Unaudited) (USD $)
Share data in Millions, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
Operating Revenues:        
Retail revenues $ 4,379,000,000 $ 4,693,000,000 $ 11,068,000,000 $ 11,931,000,000
Wholesale revenues 497,000,000 557,000,000 1,261,000,000 1,513,000,000
Other electric revenues 157,000,000 161,000,000 459,000,000 464,000,000
Other revenues 16,000,000 17,000,000 46,000,000 53,000,000
Total operating revenues 5,049,000,000 5,428,000,000 12,834,000,000 13,961,000,000
Operating Expenses:        
Fuel 1,553,000,000 1,908,000,000 3,907,000,000 5,057,000,000
Purchased power 164,000,000 215,000,000 455,000,000 460,000,000
Other operations and maintenance 906,000,000 983,000,000 2,817,000,000 2,837,000,000
MC Asset Recovery insurance settlement 0 0 (19,000,000) 0
Depreciation and amortization 449,000,000 431,000,000 1,335,000,000 1,279,000,000
Taxes other than income taxes 237,000,000 239,000,000 690,000,000 686,000,000
Total operating expenses 3,309,000,000 3,776,000,000 9,185,000,000 10,319,000,000
Operating Income 1,740,000,000 1,652,000,000 3,649,000,000 3,642,000,000
Other Income and (Expense):        
Allowance for equity funds used during construction 39,000,000 42,000,000 102,000,000 113,000,000
Interest expense, net of amounts capitalized (218,000,000) (217,000,000) (649,000,000) (638,000,000)
Other income (expense), net 1,000,000 (1,000,000) 12,000,000 (3,000,000)
Total other income and (expense) (178,000,000) (176,000,000) (535,000,000) (528,000,000)
Earnings Before Income Taxes 1,562,000,000 1,476,000,000 3,114,000,000 3,114,000,000
Income taxes 569,000,000 543,000,000 1,098,000,000 1,123,000,000
Consolidated Net Income 993,000,000 933,000,000 2,016,000,000 1,991,000,000
Dividends on Preferred and Preference Stock of Subsidiaries 17,000,000 17,000,000 49,000,000 49,000,000
Consolidated Net Income After Dividends on Preferred and Preference Stock of Subsidiaries 976,000,000 [1] 916,000,000 [1] 1,967,000,000 [1] 1,942,000,000 [1]
Earnings per share (EPS) -        
Basic EPS $ 1.11 $ 1.07 $ 2.26 $ 2.27
Diluted EPS $ 1.11 $ 1.06 $ 2.23 $ 2.26
Average number of shares of common stock outstanding (in millions)        
Basic 876 860 872 854
Diluted 883 868 880 861
Cash dividends paid per share of common stock $ 0.4900 $ 0.4725 $ 1.4525 $ 1.4000
Alabama Power [Member]
       
Operating Revenues:        
Retail revenues 1,476,000,000 1,489,000,000 3,822,000,000 3,859,000,000
Wholesale revenues, non-affiliates 79,000,000 80,000,000 210,000,000 218,000,000
Wholesale revenues, affiliates 31,000,000 52,000,000 51,000,000 202,000,000
Other revenues 51,000,000 50,000,000 147,000,000 152,000,000
Total operating revenues 1,637,000,000 1,671,000,000 4,230,000,000 4,431,000,000
Operating Expenses:        
Fuel 469,000,000 512,000,000 1,118,000,000 1,335,000,000
Purchased power, non-affiliates 31,000,000 34,000,000 63,000,000 62,000,000
Purchased power, affiliates 41,000,000 49,000,000 147,000,000 152,000,000
Other operations and maintenance 307,000,000 309,000,000 944,000,000 896,000,000
Depreciation and amortization 161,000,000 160,000,000 478,000,000 476,000,000
Taxes other than income taxes 84,000,000 84,000,000 255,000,000 254,000,000
Total operating expenses 1,093,000,000 1,148,000,000 3,005,000,000 3,175,000,000
Operating Income 544,000,000 523,000,000 1,225,000,000 1,256,000,000
Other Income and (Expense):        
Allowance for equity funds used during construction 4,000,000 7,000,000 13,000,000 18,000,000
Interest income 4,000,000 4,000,000 12,000,000 13,000,000
Interest expense, net of amounts capitalized (71,000,000) (73,000,000) (217,000,000) (224,000,000)
Other income (expense), net (7,000,000) (7,000,000) (18,000,000) (20,000,000)
Total other income and (expense) (70,000,000) (69,000,000) (210,000,000) (213,000,000)
Earnings Before Income Taxes 474,000,000 454,000,000 1,015,000,000 1,043,000,000
Income taxes 184,000,000 180,000,000 394,000,000 407,000,000
Consolidated Net Income 290,000,000 274,000,000 621,000,000 636,000,000
Dividends on Preferred and Preference Stock of Subsidiaries 10,000,000 10,000,000 30,000,000 30,000,000
Consolidated Net Income After Dividends on Preferred and Preference Stock of Subsidiaries 280,000,000 264,000,000 591,000,000 606,000,000
Georgia Power [Member]
       
Operating Revenues:        
Retail revenues 2,335,000,000 2,609,000,000 5,786,000,000 6,494,000,000
Wholesale revenues, non-affiliates 73,000,000 90,000,000 214,000,000 270,000,000
Wholesale revenues, affiliates 5,000,000 4,000,000 14,000,000 31,000,000
Other revenues 85,000,000 85,000,000 249,000,000 247,000,000
Total operating revenues 2,498,000,000 2,788,000,000 6,263,000,000 7,042,000,000
Operating Expenses:        
Fuel 630,000,000 838,000,000 1,642,000,000 2,299,000,000
Purchased power, non-affiliates 79,000,000 127,000,000 266,000,000 297,000,000
Purchased power, affiliates 181,000,000 193,000,000 469,000,000 513,000,000
Other operations and maintenance 398,000,000 453,000,000 1,243,000,000 1,294,000,000
Depreciation and amortization 186,000,000 180,000,000 559,000,000 531,000,000
Taxes other than income taxes 100,000,000 102,000,000 281,000,000 283,000,000
Total operating expenses 1,574,000,000 1,893,000,000 4,460,000,000 5,217,000,000
Operating Income 924,000,000 895,000,000 1,803,000,000 1,825,000,000
Other Income and (Expense):        
Allowance for equity funds used during construction 15,000,000 26,000,000 41,000,000 73,000,000
Interest expense, net of amounts capitalized (95,000,000) (90,000,000) (276,000,000) (257,000,000)
Other income (expense), net (1,000,000) (4,000,000) (10,000,000) (10,000,000)
Total other income and (expense) (81,000,000) (68,000,000) (245,000,000) (194,000,000)
Earnings Before Income Taxes 843,000,000 827,000,000 1,558,000,000 1,631,000,000
Income taxes 314,000,000 303,000,000 558,000,000 583,000,000
Consolidated Net Income 529,000,000 524,000,000 1,000,000,000 1,048,000,000
Dividends on Preferred and Preference Stock of Subsidiaries 4,000,000 4,000,000 13,000,000 13,000,000
Consolidated Net Income After Dividends on Preferred and Preference Stock of Subsidiaries 525,000,000 520,000,000 987,000,000 1,035,000,000
Gulf Power [Member]
       
Operating Revenues:        
Retail revenues 347,435,000 362,109,000 880,833,000 957,409,000
Wholesale revenues, non-affiliates 27,462,000 33,921,000 83,309,000 103,814,000
Wholesale revenues, affiliates 30,113,000 52,833,000 95,179,000 79,825,000
Other revenues 16,809,000 19,167,000 48,951,000 50,855,000
Total operating revenues 421,819,000 468,030,000 1,108,272,000 1,191,903,000
Operating Expenses:        
Fuel 160,749,000 220,305,000 423,057,000 530,773,000
Purchased power, non-affiliates 18,380,000 20,046,000 41,690,000 37,938,000
Purchased power, affiliates 10,785,000 9,941,000 18,508,000 39,108,000
Other operations and maintenance 74,781,000 74,144,000 229,790,000 227,236,000
Depreciation and amortization 36,169,000 32,673,000 104,649,000 96,733,000
Taxes other than income taxes 27,142,000 29,467,000 76,202,000 79,230,000
Total operating expenses 328,006,000 386,576,000 893,896,000 1,011,018,000
Operating Income 93,813,000 81,454,000 214,376,000 180,885,000
Other Income and (Expense):        
Allowance for equity funds used during construction 1,015,000 2,434,000 3,988,000 7,091,000
Interest income 10,000 22,000 1,406,000 56,000
Interest expense, net of amounts capitalized (14,637,000) (15,156,000) (45,703,000) (43,208,000)
Other income (expense), net (567,000) (451,000) (1,860,000) (1,461,000)
Total other income and (expense) (14,179,000) (13,151,000) (42,169,000) (37,522,000)
Earnings Before Income Taxes 79,634,000 68,303,000 172,207,000 143,363,000
Income taxes 30,329,000 25,535,000 64,172,000 52,451,000
Consolidated Net Income 49,305,000 42,768,000 108,035,000 90,912,000
Dividends on Preferred and Preference Stock of Subsidiaries 1,551,000 1,551,000 4,652,000 4,652,000
Consolidated Net Income After Dividends on Preferred and Preference Stock of Subsidiaries 47,754,000 41,217,000 103,383,000 86,260,000
Mississippi Power [Member]
       
Operating Revenues:        
Retail revenues 220,296,000 233,298,000 578,744,000 620,777,000
Wholesale revenues, non-affiliates 77,017,000 78,147,000 195,364,000 215,811,000
Wholesale revenues, affiliates 4,232,000 9,804,000 13,596,000 25,407,000
Other revenues 3,874,000 4,517,000 12,513,000 13,088,000
Total operating revenues 305,419,000 325,766,000 800,217,000 875,083,000
Operating Expenses:        
Fuel 127,576,000 157,961,000 321,664,000 402,689,000
Purchased power, non-affiliates 1,357,000 2,314,000 4,434,000 4,660,000
Purchased power, affiliates 15,683,000 8,504,000 35,386,000 36,721,000
Other operations and maintenance 53,541,000 65,851,000 168,937,000 200,730,000
Depreciation and amortization 21,136,000 19,668,000 66,134,000 59,876,000
Taxes other than income taxes 19,975,000 18,297,000 60,312,000 53,029,000
Total operating expenses 239,268,000 272,595,000 656,867,000 757,705,000
Operating Income 66,151,000 53,171,000 143,350,000 117,378,000
Other Income and (Expense):        
Allowance for equity funds used during construction 17,763,000 7,291,000 43,460,000 15,413,000
Interest income 143,000 167,000 643,000 910,000
Interest expense, net of amounts capitalized (9,735,000) (3,856,000) (30,563,000) (15,401,000)
Other income (expense), net 2,441,000 257,000 1,660,000 (759,000)
Total other income and (expense) 10,612,000 3,859,000 15,200,000 163,000
Earnings Before Income Taxes 76,763,000 57,030,000 158,550,000 117,541,000
Income taxes 21,705,000 18,578,000 42,344,000 38,323,000
Consolidated Net Income 55,058,000 38,452,000 116,206,000 79,218,000
Dividends on Preferred and Preference Stock of Subsidiaries 433,000 433,000 1,299,000 1,299,000
Consolidated Net Income After Dividends on Preferred and Preference Stock of Subsidiaries 54,625,000 38,019,000 114,907,000 77,919,000
Southern Power [Member]
       
Operating Revenues:        
Wholesale revenues, non-affiliates 239,916,000 274,980,000 558,338,000 705,106,000
Wholesale revenues, affiliates 112,705,000 85,177,000 330,443,000 239,020,000
Other revenues 2,350,000 2,408,000 5,676,000 5,435,000
Total operating revenues 354,971,000 362,565,000 894,457,000 949,561,000
Operating Expenses:        
Fuel 126,109,000 141,968,000 306,738,000 345,841,000
Purchased power, non-affiliates 23,888,000 25,159,000 67,052,000 53,765,000
Purchased power, affiliates 2,650,000 11,423,000 7,904,000 48,700,000
Other operations and maintenance 40,357,000 39,571,000 128,951,000 122,372,000
Depreciation and amortization 37,612,000 31,558,000 103,541,000 92,530,000
Taxes other than income taxes 5,121,000 4,178,000 14,656,000 13,506,000
Total operating expenses 235,737,000 253,857,000 628,842,000 676,714,000
Operating Income 119,234,000 108,708,000 265,615,000 272,847,000
Other Income and (Expense):        
Interest expense, net of amounts capitalized (17,210,000) (19,886,000) (44,801,000) (56,489,000)
Other income (expense), net (522,000) (158,000) (686,000) (359,000)
Total other income and (expense) (17,732,000) (20,044,000) (45,487,000) (56,848,000)
Earnings Before Income Taxes 101,502,000 88,664,000 220,128,000 215,999,000
Income taxes 33,126,000 32,593,000 75,834,000 77,584,000
Consolidated Net Income $ 68,376,000 $ 56,071,000 $ 144,294,000 $ 138,415,000
[1] After dividends on preferred and preference stock of subsidiaries